Lucid (LCID) Secures $1.05B in Capital and Expands Uber Partnership

Lucid Group, Inc. (NASDAQ:LCID) is one of the 12 Best EV Stocks to Buy For Long Term Investment.

On April 14, 2026, Lucid Group, Inc. (NASDAQ:LCID) announced the pricing of an underwritten public offering of common stock expected to generate $300M in gross proceeds. As part of a broader set of transactions, Uber increased its commitment to purchase at least 35,000 Lucid vehicles for its future global robotaxi service and committed an additional $200M investment, bringing its total investment in Lucid to $500M. Ayar Third Investment also committed $550M in convertible preferred stock, reinforcing the company’s partnership with the Public Investment Fund. Including the equity offering, the combined capital raised is expected to total approximately $1.05B, with BofA Securities acting as sole underwriter.

Also on April 14, Lucid announced that Silvio Napoli will become its next CEO and join the board of directors. Napoli, formerly Chairman and CEO of Schindler Group, will relocate from Switzerland to the U.S., while current interim CEO Marc Winterhoff will transition to the role of COO upon Napoli’s appointment.

Lucid (LCID) Secures $1.05B in Capital and Expands Uber Partnership

On April 12, 2026, RBC Capital lowered its price target on Lucid to $8 from $10 and maintained a Sector Perform rating as part of a broader Q1 preview for global autos. RBC cited macroeconomic pressures linked to Middle East tensions, noting that while higher fuel prices could support EV adoption in Europe, demand shifts in the U.S. remain constrained by reliance on government incentives. The firm also flagged potential delays in USMCA-related developments due to geopolitical factors.

Lucid Group, Inc. (NASDAQ:LCID) develops and manufactures electric vehicles and related technologies.

While we acknowledge the risk and potential of LCID as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than LCID and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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